Sector Update: Financial Stocks Advance Friday Afternoon

MT Newswires Live11-16

Financial stocks rose Friday afternoon trading with the NYSE Financial Index up 0.2% and the Financial Select Sector SPDR Fund (XLF) ahead 0.4%.

The Philadelphia Housing Index shed 0.4%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.2%.

Bitcoin (BTC-USD) rose 2.7% to $89,645, and the yield for 10-year US Treasuries was little changed at 4.42%.

In economic news, US retail sales data from the Commerce Department showed a 0.4% jump in October, a bigger increase than the 0.3% gain expected in a survey compiled by Bloomberg.

In corporate news, JPMorgan Chase (JPM) is exploring options for its European headquarters in London's Canary Wharf financial district, Reuters reported. JPMorgan shares gained 1.3%.

KKR (KKR) said Friday it expects to begin a second tender offer for Tokyo-listed Fuji Soft "as soon as the middle of next week" after board members at the Japanese robotics tech company unanimously recommended shareholders accept a sweetened takeover by the US-based private equity firm. KKR shares were shedding 0.9%.

Ellington Financial (EFC) said Friday it has closed a $290 million securitization backed by a pool of non-qualified residential mortgage loans. Its shares were down 0.3%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment